Dr. Rick Harper

 

  In this week’s Economic Report, Dr. Rick Harper discusses the Federal Reserve’s decision to once again hold interest rates.

The Federal Reserve met this week and, based on their projections, decided once again not to raise interest rates.

“It’s now five meetings ago (December 2015) since the Federal Open Market Committee raised the key overnight lending rate by 25 basis points – that is a quarter of a percent. And so, now we have short-term rates hovering in that region,” Harper said.

   In this week’s Economic Report, Dr. Rick Harper discusses the recent grant awarded to the University of West Florida’s Haas Center to develop an economic development strategic plan through Florida’s Great Northwest.

Through a grant from the U.S. Department of Commerce Economic Adjustment Assistance, the University of West Florida’s Haas Center for Business Research and Economic Development will take a major role in creating an economic development strategic plan for Florida’s Northwest region.

   In this week’s Economic Report, Dr. Rick Harper discusses the July tourism boom, the effect of Brexit on the U.S. housing market and the call to repeal the commercial real estate sales tax.

July means big business for tourism and leisure and hospitality industries in the Panhandle, and this year is no exception.

 

  In this week’s Economic Report, Dr. Rick Harper discusses the effect the Brexit referendum had on the Federal Reserve’s decision not to raise interest rates, an expected rise in employment and foreign home buying growing in the U.S., with Florida leading the way.

 

Minutes from the June Federal Reserve meeting released this week suggest that concerns about Brexit played a part in the Fed’s decision not to raise interest rates, but there were also other issues at play.

 

 

In this week’s Economic Report, Dr. Rick Harper discusses the aftermath of the Brexit vote and the first-quarter revision of the GDP. Also, Northwest Florida’s economy is booming with Fourth of July on the horizon.

If you’re in the UK, the economic temperature is cooling, Harper said.

 

The Federal Reserve met this week and decided once again not to raise interest rates, but the effect of that decision to do nothing is still making waves in the larger economy.

  In this week’s Economic Report, Dr. Rick Harper talks about the changes in overtime pay rules, the latest unemployment numbers and the prospect of the Federal Reserve’s next interest rate increase.

New federal regulations have nearly doubled the the amount of overtime pay employees are eligible to receive. Harper said the rules are drastic, in part, because they are cumulative.

 

In this week’s Economic Report, Dr. Rick Harper discusses record numbers of visitors in the first quarter of 2016 and the direct effect on Florida’s tourism job numbers.

 

Florida’s tourism business is booming. A report released by the governor’s office this week said that 29.8 million visitors came to the state in the first quarter of 2016, an increase of 4.8 percent over the same period last year.

 

In this week’s Economic Report, Dr. Rick Harper discusses underperforming job numbers and where job growth is – and isn’t – in Northwest Florida.

The Automatic Data Processing Inc. Research Institute latest monthly report, released Wednesday, showed that while job creation was still occurring in April, it was at a slower pace than expected.

In this week’s Economic Report, Dr. Rick Harper talks about the first quarter Gross Domestic Product report, the Federal Reserve’s decision to hold interest rates, and growth in both Navarre Beach and downtown Pensacola.

 

The GDP report was released this week and reports that the U.S. economy’s annual growth slowed to just 0.5 percent in the first three months of 2016.

 

“It’s disappointing,” Harper said. “Half a percent is not in the range we’d like to see.”

 

In this week’s Economic Report, Dr. Rick Harper discusses the UWF Student Scholar Symposium and Faculty Research Showcase that took place at the University’s Field House on Thursday and featured “scholarly and creative works produced through collaboration between UWF students and faculty.”

In this week’s Economic Report, Dr. Rick Harper discusses the Panama Papers scandal and tax inversion,the rise in service sector jobs and why economic growth isn’t benefiting everyone in our area.

The Panama Papers scandal, in which a leak revealed that many world leaders are storing their wealth in secret offshore accounts to avoid taxes, was big news this week, but what does it mean for the world economy? In Harper’s view, not much in the short term.

 

  In this week’s economic report, Dr. Rick Harper discusses the Commerce Department’s revised Gross Domestic Product report and good news about job growth for Florida.

 

The Commerce Department released their revised GDP report for the fourth quarter of 2015 this week and it beat expectations, surprising many.

 

“It came in at 1.4 percent growth and while that’s not a great growth rate – we would rather see growth at 2, 3 or even more percent per year, it was better than expected,” Harper said. 

 

In this week’s economic report, Dr. Rick Harper discusses the Federal Reserve holding fast on interest rates, how the Consumer Price Index is standing, an increase in housing starts and what the renewal of the Economic Development Ad Valorem Tax Exemption means for our community.

The Federal Reserve held interest rates recently and Harper expects this to be the pattern for the rest of this year.

In this week’s economic report, Dr. Rick Harper discusses what local projects were vetoed by the Governor in Florida’s budget and what improvements could mean for the Port of Pensacola.

The largest state budget in Florida’s history – over $82.3 billion – has been signed by Gov. Rick Scott, but only after a veto of $256 million dollars of state projects.

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